Permitting Completed for Pumpkin Hollow Underground
With all permits for the underground project in hand, Nevada Copper will receive a further $15 million under its $200-million RK Mine Finance senior secured loan facility and copper concentrate off-take agreements. A further $149 million is scheduled to be received by the second quarter of 2014 on the completion of certain other project milestones, including completion of the 24-ft dia, 2,140-ft deep shaft.
Nevada Copper expects the Pumpkin Hollow underground project to reach commercial production in 2015. Detailed engineering for the 6,500-mt/d mill is ongoing.